Financial Technology Innovative Experimentation Act

The Executive Yuan approved on May 5, 2017 the draft act prepared by the Financial Supervisory Commission (FSC). The legislation propose a regulatory sandbox suspending criminal and administrative liabilities arising from engaging in certains regulated activities. Participants must apply to the sandbox program. The sandbox applies then for an 18 month period that can be extended up to 36 months. This proposed sandbox has been voted into law on December 29th 2017.